Napocor seeks consultant for revaluation of power asset

By Danessa O. Rivera (The Philippine Star) | Updated October 22, 2015 - 12:00am

MANILA, Philippines - State-run National Power Corp. (Napocor) is hiring a consulting firm to undertake the re-valuation of its assets, particularly the power barges and those under the Small Power Utilities Group (SPUG).

In a notice published in newspapers yesterday, Napocor said is seeking bids from consulting firms “for the assets valuation of SPUG plants and power barges (PB3).”

The state-run power firm has approved a budget of P15 million that will be taken out of its 2015 corporate budget.

Interested firms have until Nov. 9 to submit eligibility documents, which will be evaluated based on a non-discretionary “pass/fail” criterion.

Once consulting firms pass the eligibility round, Napocor’s Bids and Awards Committee will then draw up a shortlist of five prospective bidders entitled to submit proposals.

Napocor will utilize open competitive bidding procedures and will evaluate bids using the quality-cost based evaluation/selection procedure.

The winning bidder will be given 300 calendar days to complete the asset revaluation.

The revaluation of power assets is required by regulators when a company applies for cost recoveries that are intended for pass-on to consumers.

Currently, Napocor has 290 SPUG power plants and 11 power barges. Under the Electric Power Industry Reform Act (EPIRA) of 2001, the universal charge for missionary electrification (UCME) is collected from end-users which will be used for the electrification of remote communities or areas not connected to the main transmission grid.